2011 Calgary Real Estate Forecast

In an annual forecast released recently, the Calgary Real Estate Board’s president Sano Stante said single-family home sales are expected to increase by 19.9 per cent this year to 14,500 transactions while the average MLS sale price is predicted to rise 4.1 per cent to $480,000. He also said the real estate board is predicting condominium sales will rise by 15.8 per cent to 6,000 transactions, with the average sale price increasing by 1.8 per cent to $295,900.

In the towns outside of Calgary market, the board is forecasting a 13.5 per cent increase to 4,000 sales with the average price increasing by 2.6 per cent to $368,500.

Canada Mortgage and Housing Corp. forecasts MLS sales, which includes all residential properties, in the Calgary census metropolitan area to increase by two per cent this year to 20,700 units, while the average sale price will rise by 0.5 per cent to $401,000

source – “CalgaryHerald”

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Which way market will really go, we have to see… MOst likely due to recent changes in mortgages some buyers will be out of market, without any ability to buy a property, secondly number of new listings coming on a market is picking up again… So if you are SELLER, you have to price your home correctly, if you are a buyer – new listings are not cheaper that few months ago…

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